The _______ Component of Time Series Reflects the Long-Run Decline

question 45

Multiple Choice

The _______ component of time series reflects the long-run decline or growth in a time series.

• A)Trend
• B)Seasonal
• C)Cyclical
• D)Irregular

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Definitions:

Slope

The rate at which a dependent variable changes with respect to an independent variable in a linear relation.

API Gravity Degrees

An oil industry standard that compares the density of petroleum liquids to that of water, determining whether they are heavier or lighter.

Outliers

Observations in data that do not follow the pattern of the majority, significantly differing from other observations.

Covariances

Covariances are measures that indicate the extent to which two random variables change in tandem. A positive covariance indicates that two variables tend to move in the same direction.